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CBI arrests a Service Tax Superintendent for accepting bribe

The Central Bureau of Investigation has arrested a Superintendent of Service Tax Commissionerate, Nehru Place, New Delhi for demanding & accepting a bribe of Rs.1,50,000/- from the complainant....

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Posted Under: Service Tax |

Tax on Services provided by Govt or Local Authority wef 01.04.2016

Any service provided by the Government or a local authority to a business entity has been made taxable with effect from 1st April 2016. Prior to this, only support services provided by Government or local authority to business entities were taxable....

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Posted Under: Service Tax |

Tax on Services Provided by way of Assignment of Spectrum

One of the issues raised by the telecom service providers (TSP) was whether Service Tax is payable, on instalments due after 1.4.2016, for spectrum assigned/auctioned to them in the past. It has been clarified that service tax payable, whether in full upfront or in instalments, for assignment of right to use such spectrum has been exempte...

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Posted Under: Service Tax |

Utility for e-filing Service Tax Return for Oct,15 to Mar,16

1. Utility for e-filing Service Tax Return (ST-3) for the period October, 2015 – March, 2016 is now available in both offline and online version. The last date of filing the ST-3 return for the said period is 25th April, 2016. To avoid congestion and inconvenience in the last minute, all assesses are requested to […]...

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CAG makes 166 audit observations on Service Tax Compliance

CAG has releases it Report No. 1 of 2016 (Indirect Taxes – Service Tax) for the Financial Year 2014-15 on compliance audit of the Central Board of Excise and Customs under Department of Revenue – Indirect Taxes (Service Tax) of the Union Government. The Service Tax collection was Rs 1, 67,969 crore during financial year 2014-15 [&hel...

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Posted Under: Service Tax |

15 Steps taken by Govt. for welfare of indirect tax payers

1. Establishment of 24X7 customs clearance facility in 17 airports and 18 seaports. 2. Customs Single Window Clearance Project for faster customs clearance. 3. Implementation of e-BRC (BRC-Bank Realization Certificate) module...

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Posted Under: Service Tax |

TARC committee recommendation Status related to CBDT & CBEC

Recommendation -Prefilled tax returns should be provided to all individuals. The taxpayer will have the option to accept the tax return as it is or modify it. In either event, the filing process would be completed with the submission of the tax return electronically....

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Posted Under: Service Tax |

Exempt marketing & brand promotion of agri products in rural areas from service tax

Apex industry body ASSOCHAM has urged the Finance Ministry to keep all services provided for agricultural produce outside service tax ambit. Services like warehouse management, security, laboratory testing and others that are essential to secure storage of agri-produce should be included in the negative list or in the list of exempted ser...

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CAG Report on wrong Availment of Service Tax Exemptions

Availment of Exemptions Under section 93 of Finance Act, 1994, the Government is empowered to exempt generally or subject to such conditions as may be specified in the notification, taxable service of any specified description from the whole or any part of the service tax leviable thereon. During the course of this performance audit we [&...

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Posted Under: Service Tax |

CAG report on irregular Availment/Utilisation of Cenvat Credit

Availment/Utilisation of Cenvat Credit A provider of taxable services can, in terms of rule 4 of the Cenvat Credit Rules, 2004 avail credit of excise duty paid on inputs and capital goods and service tax paid on any input service. The credit can be utilised towards payment of service tax subject to the fulfilment of […]...

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Posted Under: Service Tax |